Economics
India to Gain From Japan $30 Billion Steel Bill: Freight Markets
This article is for subscribers only.
Indian shipping lines stand to gain from higher iron-ore exports to China as rebuilding from Japan’s earthquake signals a $30 billion jump in demand for steel.
The likely rise in shipments from India, the mineral’s third-largest exporter, to China, the biggest steelmaker, is among reasons to buy shares in Shipping Corporation of India Ltd. and Great Eastern Shipping Co., says Mumbai-based Centrum Broking Pvt. Ltd. About 10 percent of a possible $300 billion recovery bill in Japan may be spent on steel products, according to Australia & New Zealand Banking Group Ltd.